By Devika Patel
Knoxville, Tenn., June 4 - Bellamont Exploration Ltd. said it took in C$15 million in a private placement of stock. The deal priced May 20 for C$10.01 million with a C$2.5 million greenshoe and was increased to C$12.5 million on May 21, with the greenshoe unchanged.
Bellamont sold 10,345,000 class A shares at C$1.45 per share. Of those shares, 1,725,000 were part of the fully exercised greenshoe.
The company originally had planned to sell 6.9 million shares, along with the greenshoe.
The deal was conducted by a syndicate of underwriters led by GMP Securities LP and including Blackmont Capital Inc., FirstEnergy Capital Corp. and Tristone Capital Inc.
Proceeds will be used to expand Bellamont's development and exploration of its 70 gross well drilling location inventory in the Peace River Arch and for working capital purposes.
Bellamont is an oil and gas exploration and development company based in Calgary, Alta.
| Issuer: | Bellamont Exploration Ltd.
|
| Issue: | Class A shares
|
| Amount: | C$15,000,250 (including C$2,501,250 greenshoe)
|
| Shares: | 10,345,000
|
| Price: | C$1.45
|
| Warrants: | No
|
| Underwriters: | GMP Securities LP (lead), Blackmont Capital Inc., FirstEnergy Capital Corp., Tristone Capital Inc.
|
| Pricing date: | May 20
|
| Upsized: | May 21
|
| Settlement date: | June 4
|
| Stock symbol: | TSX Venture: BMX.A
|
| Stock price: | C$1.80 at close May 20
|
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